Believe it or not there are many ways to make money from a virtual event. Sometimes the money you make is after the event happens, and sometimes during, and many times it is a combination of factors that enable you to earn money from having virtual events.
Selling sponsorships is a great way to earn money on your virtual event. Choose sponsors that offer a benefit, discount, and value to your target audience. Be selective, limit the spots, and charge a premium.
You can also make requirements of your sponsors to promote your event, to announce their sponsorship with a badge on their site and more. There are ways to use the sponsorship to also promote the event by getting amazing value for your attendees.
Many people have free events, but oftentimes this results in just having freebie seekers coming to the event. If you charge for the event, with great marketing, you can make quite a good income for the event even if the charge is low.
Imagine a 200 capacity conference room, charging only $5.00 each will result in a $1000 revenue from the event. Deciding your price point will take some research and knowledge of your target audience, and depend upon what you’re presenting.
It is important that if you’re selling tickets to an event that the event be more than a way to up sell other products and give something of true value to the attendees. When people are paying for an event they expect to get something amazing out of it.
By offering sneak-peeks and bonuses for attendees that offer discounts on other products and services that you and the speakers / presenters offer can go far in getting new clients and customers and add substantially to your bottom line.
If you charged for the event be very careful how you approach this. Most people are used to getting a coupon with a percent or set amount off for a new purchase so this will probably be a fine thing to do. Giving bonus products such as free eReports, eBooks, a recording of the event, plus a transcription of the event.
4. Post Event Offers
When the event is over, the attendees have received their copy, those who paid received their copy, now you can sell the event, forever, over and over again as a download. Imagine that you can get paid for creating an information product that you can sell over and over again in various forms from a recording of the event to the transcript of the event.
If your event is super successful and you kept track along the way, you can even sell the planning and conducting of the event as a virtual events case study “How To” guide. Events can also be broken up. If you had several speakers you can break each part up into a separate product with extras such as check lists, questionnaires, and more added to the product. There are so many ways you can repackage each event only your imagination stands in your way.